Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 72 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.Dev’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹340 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) buying paper cups (d) paying the stall fee
3. 3.True or false: “tutoring fees received” is an expense (money out). (a) False (b) True
4. 4.📒 Income or expense: buying lemons? (a) income (b) expense
5. 5.📒 Income or expense: tutoring fees received? (a) income (b) expense
6. 6.📅 When is the best time to update your records? (a) never (b) whenever you like (c) the same day (d) once a year
7. 7.Gurpreet’s income was ₹460 and the profit was ₹70. One expense was ₹150 (lemons). How much was the other expense, for card paper (in ₹)?
8. 8.📒 Income or expense: a card order paid? (a) income (b) expense
9. 9.Kabir’s record for a rainy day:
   Income: ₹120 (sales)
   Expense: ₹80 (lemons)
   Expense: ₹130 (sugar)
   How much is the loss (in ₹)?
10. 10.True or false: “buying paper cups” is income (money in). (a) True (b) False
11. 11.Meera’s record for a rainy day:
    Income: ₹140 (sales)
    Expense: ₹100 (card paper)
    Expense: ₹70 (paper cups)
    How much is the loss (in ₹)?
12. 12.Aarav’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹120 (evening sales)
    Expense: ₹170 (lemons)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
13. 13.🧾 What should you keep after buying supplies? (a) only the bag (b) nothing (c) a selfie (d) the bill or receipt
14. 14.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to fill a notebook (d) to look busy
15. 15.True or false: “cash from selling plants” is an expense (money out). (a) False (b) True
16. 16.Which of these is an expense (money out)? (a) cash from selling plants (b) tutoring fees received (c) a card order paid (d) buying paper cups
17. 17.Kabir’s record for the day:
    Income: ₹140 (morning sales)
    Income: ₹400 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹150 (paper cups)
    What is the profit (in ₹)?
18. 18.Rohan’s record for a rainy day:
    Income: ₹70 (sales)
    Expense: ₹50 (stall fee)
    Expense: ₹30 (lemons)
    How much is the loss (in ₹)?
19. 19.Vihaan’s income was ₹500 and the profit was ₹320. One expense was ₹130 (card paper). How much was the other expense, for ribbon (in ₹)?
20. 20.Which of these is an expense (money out)? (a) payment for a cake order (b) cash from selling plants (c) tutoring fees received (d) printing posters
21. 21.➖ Profit in your records = (a) income − expenses (b) income + expenses (c) just the income (d) expenses − income
22. 22.Which of these is income (money in)? (a) money from sales (b) paying the stall fee (c) bus fare to the market (d) buying lemons
23. 23.📒 Income or expense: paying the stall fee? (a) income (b) expense
24. 24.Riya’s income was ₹190 and the profit was ₹100. One expense was ₹70 (posters). How much was the other expense, for ribbon (in ₹)?
25. 25.Vihaan’s stall took in ₹370 on Friday, ₹360 on Saturday and ₹110 on Sunday. What was the total income (in ₹)?
26. 26.Joseph’s record for a rainy day:
    Income: ₹190 (sales)
    Expense: ₹100 (lemons)
    Expense: ₹120 (sugar)
    How much is the loss (in ₹)?
27. 27.True or false: “printing posters” is income (money in). (a) False (b) True
28. 28.True or false: “buying paper cups” is an expense (money out). (a) False (b) True
29. 29.Zoya’s income was ₹170 and the profit was ₹10. One expense was ₹130 (ribbon). How much was the other expense, for lemons (in ₹)?
30. 30.Kabir’s stall took in ₹50 on Friday, ₹360 on Saturday and ₹300 on Sunday. What was the total income (in ₹)?
31. 31.📒 Income or expense: printing posters? (a) expense (b) income
32. 32.Joseph’s stall took in ₹390 on Friday, ₹70 on Saturday and ₹150 on Sunday. What was the total income (in ₹)?
33. 33.Saanvi’s record for a rainy day:
    Income: ₹80 (sales)
    Expense: ₹30 (ribbon)
    Expense: ₹130 (card paper)
    How much is the loss (in ₹)?
34. 34.Arjun’s stall took in ₹80 on Friday, ₹270 on Saturday and ₹310 on Sunday. What was the total income (in ₹)?
35. 35.Zoya’s stall took in ₹250 on Friday, ₹300 on Saturday and ₹330 on Sunday. What was the total income (in ₹)?
36. 36.Aarav’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹20 (sugar)
    Expense: ₹170 (card paper)
    What is the profit (in ₹)?
37. 37.True or false: “money from sales” is an expense (money out). (a) True (b) False
38. 38.Meera’s income was ₹180 and the profit was ₹160. One expense was ₹10 (card paper). How much was the other expense, for stall fee (in ₹)?
39. 39.Joseph’s income was ₹400 and the profit was ₹270. One expense was ₹20 (lemons). How much was the other expense, for sugar (in ₹)?
40. 40.Diya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹20 (paper cups)
    Expense: ₹220 (lemons)
    How much is the loss (in ₹)?

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